Today, in this video we will discuss about such business modeling in pharmaceutical area on which numerous discussions gone on, many questions have been raised Beyond all these things we can not neglect its existance That business model is online pharmacy( e-pharmacy) Online pharmacy is new emerging concept As you know other sectors like FMCG, Cloths, Footware and many more have their online attendance and they are having good emergence on online scaffold But if we think about pharmaceutical sector, about epharmacy then there will be many laws and planneds But is this business model be good, effective and more customer centric? because any business which is directly connected to customer and leaves customer satisfaction will become successful business As we can see, in pharmaceutical sector, numerous actors are available in online pharmacy( epharmacy) like 1 mg, Netmeds, Medlife, Apollo and many more are coming After this, epharmacy will become most demanding field in next 10 to 15 years.And this demand will be always increasing Because ePharmacy is having many benefits which are directly satisfying customers This does not mean that, offline pharmacy and retail store will be useless due to epharmacy every business need to cope up with latest technologies and informed procedures then simply your business will be successful Same applies to pharmacy There are many business which are running from many years but if you are not informed with latest engineerings then it will collapse Hence, ePharmacy is a new formula or updation in pharmaceutical sector for successful business Not only big companies can do epharmacy but also you can do this If you are retail pharmacist then you can create group of 10 or 20 pharmacists and together can do epharmacy In this video i will tell you all details about epharmacy This video is for all people who are doing retail pharmacy, wholesale pharmacy or who are searching for new business opportunity in pharmacy sector. And people who want to know advantages& disadvantages of epharmacy For all of these, this video will be very informative I will discuss all details about documentation, website evolution and challenges Friends, In this video we will get to know all details about new model- ePharmacy First, we will talk about why ePharmacy? why people will think about ePharmacy? Why this business will become successfull? Whether it is successful and sustainable? There are many answers First is convinience Nowadays, if patron like us can dictate any thing with one click.If we get any offers then emphatically we will prefer this. same applies to Pharmacy. If you seek any drug online and you get home delivery for the same then emphatically, you will prefer the same Discount is different thing, but as we are talking about service, if we get good busines then certainly we will prefer online pharmacy If you are thinking there is retail pharmacy store far away from the place from which you are ordering then surely you will prefer online pharmacy So this convinience we can get from online pharmacy Second important thing, it is a single website That necessitates, when you go to retail store and ask for multiple medications then only few of them are available and for residual of the prescriptions you have to go to different store this happens many times, you might not get all remedies at single collect On the other hand, in ePharmacy, you will get all details on single website.Hence this is another convinience Next is, Electronic Health Record will be maintained That conveys, for prescription based medications, you have to upload prescription. For OTC produces you can order instantly. In this way your record will remain on website So Electronic Health Record is emerging thought in todays Digital world So, in upcoming dates, Electronic health record and digital drug will dally important role So this is an advantage of epharmacy where electronic state record will be maintained Next is, more informative that is, you will get all the information about all medicines Hence before obtaining any medication, you can check its information and understand that why this medicine is prescribed by doctor Doctor’s consultation is very important, this is only side consultation Becuase it may happen that doctor may prescribe different medications for two different people for same malady. It is based on person health and past history However you can check medicine information, side effects, different replaces, referred blogs in single clink Next important factor is entanglement apprearance. You can buy medicine, check equivalent and other information.Along with remedy you can buy any other compelled concoctions in single window Hence you will get more than sufficient information with one click only So these are all plus stations If “youre thinking” to do business in ePharmacy then how to do that? I will tell same thing in this video If you just wanted to do business in ePharmacy then “youve got to” first apply for Licensing First point is, “youve had” physical pharmacy store.Offline physical pharmacy accumulation is mandatory What you will require for this? Registered pharmacist is required, Your store area should be 10 square meter( retail) and 15 square meter for wholesale And 15 square meter for both retail and wholesale Your premices documentation, idea follows is essential to uploaded for licensing I have already created in detailed video for the same, you can see link in description Next, “youve got to” do GST registration. As you are doing business in ecommerce then GST registration is compulsory as per government standards If you use any other platform like Amazon, then they will likewise ask for GST count Hence GST registration is required You have to upload all asked documents under eCommerce act and get it sanctioned.Because this comes under eCommerce act Next is, as per Schedule H, Schedule H1, medicines only to be sold on the drug of cross-file medical practitioner Such medicines needs to be sold only when customer uploads doctor’s drug This settle is compulsory You can not sell schedule X remedies as per standards This is all about licensing Next we will talk about how to start ePharmacy? Once you get license, you have to design a website There are options that, you can create your own mobile application or website like 1MG, NetMed Or you can use another B2B platform like Shopify, Magento or amazon and become partner with these stages However, in this case, these scaffold will make some percent as margin on each sale and remaining will be sent to you If you want to do this business for enter term then make your own website or portable lotion In this case, first place is which hosting you will use? Web hosting or Shared hosting Always implement Web hosting Because, if you think about pharmaceutical sphere it requires huge amount of data as compared to other sectors like FMCG, clothes, online patronizing or any other There is huge amount of data required in pharmacy, even a one remedy can have data of minimum 10 -2 0 pages which contains substitutes, side effects, mechanism of activity, harmful affair, everything.All information needs to be mentioned compulsory Hence, due to huge amount of data, ever make web hosting which will help you to save your message Second point is, which causes should keep in mind Once you decided to do business in ePharmacy then you will approach a network make. Now we will discuss about, which spots needs to be discussed with web developer? This will help you to avoid any confusion while discussing with web developer about Website designing/ increase There are 5 point which we will discuss First point is about Admin end.Which assures you will need in admin panel those are Seller Profile, Inventory management, Approval of transaction, Profile updation This service is required from admin end Next point is work from Seller end. First is concoction administration, Seller branding, Transperancy, Product addition control, URL control We are does so with assistances from Admin End and Seller end. Now we will discuss about client end point of view Which points are important from purchaser point of view First important item is drug upload equipment, easy search for customer, All narcotic report Next is tell tracking- detailed dictate tracking equipment should be available with bringing modernizes Next is payments& volunteers Next is reminders. It is likely to be benificial if you give this additional feature about drug timings to your purchaser where reference is/ she buy any remedy Next is profile control. you are able to establish profile command to customer so that they can update their details Next feature is list smart-alecky pursuing. This facet should be available so that patron can be found in remedies according to their category which should be customer friendly.These all features are from customer point of view. Now we will discuss features from pharmacist point of view First is dedicated interface expected to be available. Good support service should be available in case of any enquiry or inquiry from purchaser Next is Delivery option- Always afford give alternatives which can be selected easily by patrons Next is Map tracking which is important to move dictate Next important feature is status updation These are all asked stages from pharmacist’s point of view Now we will discuss other options which also plays very important role to host a website First point is speech. Try to cover multiple languages Second is , adjacent medical stores. Customer should be able to find nearby medical accumulations Next is consultant talk. Many consultants should be available online through your website programme. Many cases opt on-line consultation nowadays and this is increasing day by day. Hence you should take advantage of this. Next is video chat. This aspect is imporatant, video chat should available with physician or pharmacists. This is all about how to host your website.Now you must be understood, how to apply for licensing and how to host a website Now, we will discuss about challenges Every business have challenges. This business aslo have challenges First big challenge is Budget As i told earlier, all required data, website hosting with all above boasts will need money You can focus only when you have very good, instructive and imaginative website Your product is very important. Branding is secondary step Hence budget is very important and money investment is necessary for this business You is not able to accommodation on plan. Hence this is one of the challenges in this business Second challenge is customer ignorance this means that , as is comparable to other patronizing websites, epharmacy did not get that much of purchaser adoption. So this is one challenging factor. You have to convert more purchasers Next spot is consistency. You have to take ceaseless follow up with patrons. Always keep in touch with patrons then only they will convert AI technology will help you to build your website more customer centric Plan may increase due to use of such latest technology.But you have to focus on this Next is advertising or advertising Now once you build a website, patron will not contact you directly. Customer should be aware about your business/ website You have to highlight your unique moments such as different furnishes, deduction or any special works so that client can attract towards the same. Hence advertising or advertisement is very important cost required for advertising and cost for build a website, both are different. However investment in both things is necessary. this is all about advertising/ promotion Next we will discuss about Availability As there are wide range of drugs, in branded, generics, injectibles, lubricants, ointments, You can not make available each and every medicine. You “re going to have to” do proper reasearch on this If you have availability of medicines then only purchaser will continuously use your scaffold otherwise no patron will be implemented by it So availability is one of the challenging ingredients in ePharmacy. Already existing ePharmacists are facing this issue This is about standard medicines. Second point is, countless physicians prescribe drugs of neighbourhood manufacturing fellowships which are most of the time not available. Hence you should focus on these points Because, if you want to grab every customer then you have to focus on as many concoctions as possible This is all about availability of commodity Last-place point is , Barcode system There are many medicines which are without barcode.Hence, this causes problem to generate all required data in system Hence to avoid this, every medication needs to have barcode. Then exclusively ePharmacy can become successful business prototype So friends, this is all about challenges, licensing in ePharmacy and things to be considered while designing your website I hope you like this video and will assist you if you want to start your ePharmacy business or if you want to have information about ePharmacy then this video will provide satisfactory information If you have any inquiries then satisfy mention it in comments box If you like this video then please hitting like button and share to your best friend So that’s all for this video, we will meet in next video Till then, Be healthy! Be Happy !.
